A President who thinks that extending unemployment compensation “creates jobs” is so out of touch with reality that it should come as no surprise that Obama has the worst record of unemployment rates since the days of the Great Depression in the 1930s.
The latest employment figures for December showed that the economy only added 74,000 non-farm jobs, the fewest in three years! The government claims that the unemployment rate dropped 0.3%-the first time in 60 months that it dropped below 7%. And the official rate is bogus. The government only counts people as unemployed only if they are actively looking for work.
As of October 2013, The Wall Street Journal reported that “The U.S. now has 90.6 million ‘non-institutionalized’ men and women over the age of 16 not working-an all-time high. That’s 10 million above the 80.5 million when President Obama took office. With total unemployment at 144.3 million, for every three Americans over the age of 16 earning a paycheck there are two who aren’t even looking for a job. That’s an ugly portent for American prosperity.”
In a September 2013 edition of Investor’s Business Daily, Betsey McCaughey, a former lieutenant governor of New York and author of “Beating Obama-Care”, wrote that “After 4-1/2 years of the Obama presidency, an unprecedented number of Americans have given up looking for work, wages are stagnating, low-wage earners are suffering most and the U.S. is fast becoming a nation of part-time workers.”